Indian Indices End Flat; JSW Steel and Bajaj Finserv Among Top Nifty Gainers

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Indian share markets witnessed volatile trading activity throughout the day today and ended on a flat note.

Benchmark indices erased early gains and ended the day on a flat note after witnessing selling pressure in afternoon deals, dragged by auto stocks.

At the closing bell, the BSE Sensex stood higher by 32 points (up 0.1%).

Meanwhile, the NSE Nifty closed higher by 30 points (up 0.2%).

JSW Steel and Bajaj Finserv were among the top gainers today.

Hero Motocorp and Eicher Motors, on the other hand, were among the top losers today.

The SGX Nifty was trading at 14,936, up by 40 points, at the time of writing.

The BSE Mid Cap index ended down by 0.2%, while the BSE Small Cap index ended up by 0.1%.

Sectoral indices ended on a mixed note with stocks in the metal sector witnessing most of the buying interest.

Auto stocks, on the other hand, witnessed selling pressure.

Shares of JSW Steel and Bajaj Finserv hit their respective 52-week highs today.

ONGC and Bajaj Auto were among the top buzzing stocks today.

Asian stock markets ended on a positive note today.

The Shanghai Composite and the Hang Seng ended the day up by 0.5% and 0.8%, respectively.

The Nikkei ended up by 0.2% in today's session.

US stock futures are trading on a positive note today with the Dow Jones Futures trading up by 148 points.

The rupee is trading at 74.04 against the US$.

Gold prices for the latest contract on MCX are trading down by 0.4% at Rs 46,884 per 10 grams.

Speaking of stock markets, in his latest video for Fast Profits Daily, Brijesh Bhatia talks about the never-ending debate between PSU banks and private banks.

In this debate between PSU and private banks, which ones should you buy? Brijesh answers this question in the video below.

Brijesh also explains why PSU banks have a long way to go.

Tune in to the video to find out more:

Tata Communications Share Price Dips After Q4 Results

In news from the telecom sector, Tata Communications was among the top buzzing stocks today.

Tata communications (Tata Comm) revenue for the year grew by 0.2% year on year (YoY), coming in at Rs 171 billion.

Voice business declined by 17.3% YoY, this decline was compensated by data business which grew by 4.5% YoY.

The company's Q4FY21 revenue was at Rs 40.7 billion, witnessing a decline of 7.4% on YoY basis. This decline has been largely due to de-growth in voice business and slower than expected growth in data business.

Its consolidated earnings before interest, tax, depreciation and amortization (EBITDA) for the year stood at Rs 42.6 billion.

EBITDA grew by 29.5% YoY with a margin of 24.9% which expanded by 560 basis points (BPS) YoY led by focus on right operating structure and cost efficiency initiatives.

The company's EBITDA for the fourth quarter was at Rs 10.2 billion, growing at 16.8% YoY.

Tata Comm's profit for the year was Rs 12.5 billion as compared to a loss of Rs 860 million in FY20, highest ever profit in last 11 years, on the back of strong operational performance.

Its capital expenditures (CAPEX) for Q4 was up to Rs 3.9 billion as compared to Rs 3.4 in Q4FY20.

Net debt at the end of the quarter was Rs 77.9 billion, a decrease of Rs 1.9 billion as compared to last quarter. Strong cash flow generation has helped bring debt at comfortable levels.

Note that during the quarter they made a payment of Rs 3.8 billion to Department of Telecommunications (DoT) due to difference in the accounting of costs.

The company's board of directors has recommended a final dividend of Rs 14 per share of the face value of Rs 10 each for the financial year ended 31 March 2021.

Tata Communications share price ended the day down by 3.3% on the BSE.

We will keep you posted on updates from this space. Stay tuned.

Speaking of Tata Communications, have a look at the chart below to see how the stock has performed over the past few years:

Here's what Tanushree Banerjee, Co-Head of Research at Equitymaster, wrote about it in one of the editions of the Profit Hunter:

• What is the reason for this euphoria about the stock?
  
  Well, Tata Communication finds itself among the hallowed group of companies that are called 'Stay at-home' businesses today.
  
  In the US, stocks like Microsoft, Amazon, Facebook, Apple, and Netflix find themselves in this camp.
  
  These business are uniquely positioned among the essentials in a post Covid-19 world.
  
  This is simply because millions will now choose to work, shop, study, and carry out most activities without leaving their homes.
  
  Telecom and digital businesses no doubt have taken centerstage. Therefore, even a stock like Tata Communications, with no track record of profits, is trading at premium valuations.
  
  But if you ask me, this is a classic case of euphoria. Bull markets are known to thrive in such euphoria about stocks following the latest fad.

In June 2020, Tanushree recommended a traditional Indian company to her StockSelect subscribers. The company is competing in the digital space with its latest offerings.

You can access the report here. (requires subscription).

And if you are not a StockSelect subscriber, here's where you can sign up.

Moving on to news from the energy sector...

Reliance Industries and Saudi Aramco Discuss Cash & Share Stake Deal

Billionaire Mukesh Ambani's Reliance Industries is reported to have held talks with Saudi Aramco about a cash and share deal for a stake in the Indian company's refining and petrochemicals arm, as the world's largest crude oil exporter seeks to deepen ties with the fastest-growing energy consumer.

Back in August 2019, the company announced to sell a 20% stake in the oil-to-chemicals (O2C) business, which comprises oil refineries and petrochemical assets at Jamnagar in Gujarat, to the world's largest oil exporter.

A source familiar with the matter said talks were revived in recent weeks to finalise state energy giant Saudi Aramco's acquisition of a 20% stake in the company's refining and petrochemicals arm.

The investment had been delayed because of the pandemic and its fallout on the finances of Saudi Aramco, which generates the bulk of the kingdom's revenues and is already under pressure to hand out tens of billions of dollars in dividends to the state.

According to a leading financial daily, "The kingdom was weighing paying for the Reliance deal with Saudi Aramco shares initially and then staggered cash payments over several years. The proportion of shares versus cash was still up for debate and terms had yet to be finalised."

The deal, if completed, would mark the first time Saudi Aramco had ever paid for a transaction using shares.

Reliance Industries share price ended the day up by 1.3% on the BSE.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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